Tuesday 31 March 2015 15:17, UK
Sky Bet Championship club Derby have reported a loss of £7million for the last financial year.
However, the deficit has been covered by the club's ownership group and converted to equity meaning that the Rams effectively remain debt-free - apart from the £15million mortgage on the iPro Stadium.
The loss for the year ending June 30, 2014 remains in line with the £7.1million reported for the previous year.
Turnover for the latest period increased by 31% from £15.4million to £20.2million while sponsorship and advertising revenue was up from £1.8million to £2.6million.
Match receipts increased from £5.2million to £6.1million and TV money jumped from £4.5million to £6.9million - helped by a run of televised games towards the end of the 2013-14 campaign as Derby reached the Championship play-off final.
The wage bill, which includes administrative staff, was up £3million to £13.5million.
Rams chief executive Sam Rush said: "The owners have not left that debt on the club.
"They have put that back into their ownership set-up and so we carry on as a debt-free football club which, again, is a hugely positive position and should give real comfort to all the supporters.
"To be producing revenue in excess of £20million in the Championship without parachute monies is a great effort by everybody concerned.
"We have also kept our losses at a stable level, losses that the ownership group feels comfortable with supporting.
"We have ploughed that extra £5million growth in revenue back into the club and the team to enable us to compete in the league.
"We all want a successful football club and we all want to be at the top of the league but, in my view, ultimately what you want is a stable football club and one that is going to be here for many years to come.
"Off the field, our commercial operations once again thrived and continued to be successful, notably with the stadium naming rights deal with iPro.
"I think it is a real tribute to the ownership group how they are running this football club.
"We have to keep in line with Financial Fair Play (FFP) guidelines, which we are doing comfortably."
